Daily Investment Interpretations
February 9, 2011
(Thursday Night): The
markets ended slightly higher again today: Greek
hopes stoke market; Stocks:
Investors take Greek deal in stride. The NASDAQ Composite
to 2,927.23. The Dow added 6.51
the S&P 500 gained 1.99 points
to settle at 1,351.95. Oil inched up to 98.92: Oil
up for third session on demand hopes; gold slipped
to 1732: Gold
ends lower after recent run-up. The VIX rose 0.47
points to 18.63.
Today was an example of "Buy the rumor; sell the news." Now that Greece's Leaders Agree on Austerity Terms of Bailout Deal, Weekly Jobless Claims Continue To Improve; Down 15K, and Bloomberg Consumer Comfort Showing Improvement, you'd expect the markets to soar. Instead, their response has been tepid to say the most: Same Song, Different Day; Stocks Eke Out Another Small Gain, and the VIX rose again today. What's going on?
And the answer is: I don't know other than Mark Hulbert's warning that The insiders are selling heavily.
Greek political leaders reach deal
Wall Street's kudos to talks
Bank of England adds another dose of QE
Monti says Greece key to cutting Italian yields
ECB mum on Greek bonds, eases collateral
U.S. re-enters nuclear age
Smartest guys in room: Buy now
Fledgling housing recovery has a long way to go
Banks and states reach $26 billion settlement
30-year mortgage rate matches record low
Inevitable pullback delayed
Emerging markets decoupling? Not
Bernanke 2014 pledge sparks global shift
Heritage is wrong about welfare state
Money-fund reforms won’t stop next crisis
Francois Hollande will spark next euro crisis
State of the Markets articles include:
Technical Talk: Can The Bears Get Into The Game Again?
Greece's Leaders Agree on Austerity Terms of Bailout Deal
Where's The Volume?
Tired of Greece: Here's the Super Bowl Facts, Figures and Fall-Out
Market futures are somewhat negative tonight.